03-08-2025
- Business
- AU Financial Review
Anglo and Peabody ready to go to court over $5.8b coal deal
Coal miner Peabody Energy says it's ready to go to arbitration to escape a $5.87 billion agreement to buy Anglo American's Queensland coal mines in the belief the value of the assets was diminished by an underground fire earlier this year.
The $US3.78 billion ($5.87 billion) deal for Peabody to buy four Queensland coking coal mines was shaped as an important step in Anglo American's 'radical' strategy to fix its balance sheet and shrink its asset portfolio after BHP's failed takeover bid for it last year.
